Mitsui Forms PP Materials JV in India

Mitsui Chemicals and Prime Polymer Co., a Mitsui subsidiary, say they have formed an 80-20 joint venture to produce polypropylene (PP) automotive materials at Neemrana, India. The facility will have a capacity of 15,000 m.t./year and is due to start operating in April 2009. A groundbreaking ceremony for the jv, dubbed Mitsui Prime Advanced Composite India, was held last week. Mitsui says it will be the company’s first business operation in India. The Indian automobile market is growing 15% annually, Mitsui says. Separately, Mitsui says that its net profits...

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